Financial Post | Business

Real estate may not exactly be the Rodney Dangerfield of equities, but it hasn’t always been accorded the respect it deserves, despite being one of the fastest-growing segments on global stock markets in the past 15 years.

That, however, could be about to change now that two of the world’s biggest index firms have anointed real estate as a sector all of its own.

“This is a great step,” said Arthur Salzer, chief executive at Northland Wealth Management Ltd. in Markham, Ont. “There is a significant opportunity for the real estate sector to play a larger role.”

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The S&P Dow Jones Indices and MSCI Inc. last week announced plans to promote real estate to a sector from its current industry group designation under the financials sector as part of their annual review of the Global Industry Classification Standard (GICS) structure.

The change won’t be implemented until after market…

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